Disappointing Tech Earnings Send Market Down – Acadiana Business Index
Wall Street dragged down by disappointing tech earnings as the Dow Jones Industrial Average fell 83 points to 13,033. Mark Lasseigne has the latest on what happened on Wednesday's Acadiana Business Index.
- IBM fell 3.5% after missing first-quarter revenue expectations. Intel dropped 1.8% after reporting margins that were off from the previous quarter.
In other corporate headlines,
- Yahoo rose 3.2% after earnings and revenue topped forecasts.
- BlackRock fell 2.9%. The world's largest money manager posted earnings and assets under management that were unchanged from a year earlier.
- Halliburton advanced 4.6% after the company's first-quarter earnings and revenue beat estimates.
- Crude-oil tumbled 1.5% to $102.67 a barrel after a Department of Energy report showed a larger-than-expected buildup in weekly inventories.
- And, gold closed at $1,639 an ounce.